I posted the Farm, nol, amt thread. Is there a possibility if I go back and figure the AMT nol, I can subtract it from the total and the tax will go down? or is there no AMT nol to figure? Where do I start?
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I hate AMT NOL. And sometimes the AMT makes the NOL not work. The only advice I can give is take the worksheets (NATP or the like) Work through through them. Try calling NATP and get someone who isn't just going to give you a quick answer. It may cost a little. When I had my AMT NOL problem it was the depreciation and too many kids that got in the way.
Don't forget to refigure the AMT NOL. So, you have to add back in the regular NOL for AMT purposes, but you get to take AMT NOL. I read all their instructions and frankly I think I am way to stupid to under what they were getting at. But I took it line by line and read the 6251 instructions, asked the board specific questions and called NATP for the others..JG
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